FTSE shy of magic number

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In the UK, the FTSE 100 Index has u-turned on the 5,000 mark, declining about 20 points to 4,975 in morning trading.

Shell Transport and Trading paces the London benchmark, down 12.50p to 474.25p. Intercontinental Hotels Group has shed 9.50p to 687.50. Early winners include ITV, up 2.50p to 124.50p, and Smith & Nephew adding 5.50p to 555.50p. Earlier today in Japan the Nikkei 225 Stock Average fell for a fourth day in five, losing 0.2% to 11,473.55, led by Trend Micro, after Microsoft agreed to buy Sybari Software to speed up development of its own anti-virus software products. Trend Micro declined as much as 5.7% to 4,650 yen. Microsoft earlier said it would use Trend Micro's anti-virus technolog...

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